Business

HP Calls Audit by South Korea's Competition Regulator 'routine'

HP confirmed on Tuesday an ongoing inquiry by South Korea's competition regulator, which the company labeled a "routine audit."

"HP is cooperating fully with the Korea Fair Trade Commission in this routine audit," according to a statement. "HP conducts its business with uncompromising integrity and we adhere to the highest standards of business ethics."

A FTC spokesman said he could not confirm an investigation. The FTC is the South Korea's regulatory body that investigates violation of the country's laws in areas such as price fixing, antitrust and consumer rights.

Last month, the FTC handed Samsung a 400 million won (US$356,000) fine, the largest-ever fine for obstructing an inquiry into deceptive mobile phone pricing practices.

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